Fundamentals of Transfer Pricing

This is Part Two of a crucially significant two-volume set on the nature of transfer pricing that fully elucidates how the growing body of applicable rules works in practice. The preceding volume, subtitled General Topics and Specific Transactions, focused on basic principles and specialized topics. This volume enlarges the scope of the first volume, particularly concerning industry specifics, regional considerations, the use of new technologies, and the intersection between transfer pricing rules and other disciplines.

As in the first volume, stakeholding contributors from government, multinational companies, international organizations, advisory groups, and academia offer deeply informed perspectives, both general and specific, on the practical application of transfer pricing rules. With numerous examples and relevant international judicial precedents, the authors augment the first volume in such ways as the following:

• extended analysis of particular business sectors, including automotive, banking, consumer goods, insurance, IT, oil and gas, and pharmaceutics;

• specific jurisdictional coverage of the United States, the European Union, Brazil, China, and India;

• detailed presentation of the use of new technologies by both taxpayers and tax authorities; and

• further in-depth analysis of transfer pricing's interaction with various fields of law.

With this authoritative source of practical guidance, advisors, in-house practitioners, government officials, and academics worldwide will have all the details they need to move forward in tackling the complex aspects of the current transfer pricing environment.

Dr Raffaele Petruzzi, LL.M. is the Managing Director of the WU Transfer Pricing Center at the Institute for Austrian and International Tax Law at WU (Vienna University of Economics and Business) and an international tax advisor specializing in international tax and transfer pricing at Baker McKenzie, where he is part of the EMEA Transfer Pricing Group and is the Head of the Austria Transfer Pricing Group. Raffaele has gained extensive experience in dealing with topics related to international tax and transfer pricing for many years, from both a professional and an academic side. He is a frequent speaker in international conferences and lecturer of numerous courses all over the world, as well as author of many publications. Finally, among others, he is a member of the United Nations Subcommittee on Transfer Pricing, of the International Fiscal Association (IFA), and of Transfer Pricing Economists for Development (TPED). Raffaele holds a Ph.D. in International Business Taxation and an LL.M. in International Tax Law from WU, as well as an MSc in Business Administration and Law from Bocconi University, Italy. Dr Giammarco Cottani joined Netflix in 2019 as director of global tax policy where he oversees all direct and indirect tax public policy-related issues that the group faces in the countries in which Netflix operates. Previously, Dr Cottani was a partner of the international tax law firm Ludovici Piccone & Partners where he coordinated the international and transfer pricing practice with regard to dispute prevention and resolution and complex audit assistance for large multinational enterprises. Prior to that, he was an adviser to the Italian tax authorities on international tax and transfer pricing issues and was one of the delegates for Italy involved in the OECD BEPS Project. He also worked as a transfer pricing adviser in the transfer pricing unit of the OECD where he was involved in the introduction of the new Chapter IX of the OECD Transfer Pricing Guidelines concerning business restructurings. He has (co-)led over twenty events in the area of transfer pricing for a number of non-OECD countries and has also been involved in a number of technical assistance projects for the tax administrations on behalf of international and regional organizations in various parts of the world. He served as a member of the UN Subcommittee in charge of the draft of the Practical Manual on Transfer Pricing for Developing Countries. Dr Cottani was recently involved in a number of ongoing technical assistance projects for the tax administrations of three EU Member States mainly in the areas of transfer pricing, attribution of profit by using permanent establishments, and aggressive tax planning. Furthermore, he regularly lectures at postgraduate courses in international taxation in Europe. He received his degree in Law from LUISS Rome University, Italy, in 2003, an LL.M. in European and International Taxation from the European Tax College, Tilburg and Leuven in 2005, and a Ph.D. in Corporate Taxation from LUISS Rome University, Italy, in 2009. Prof. Dr DDr H.c. Michael Lang is the head of the Institute for Austrian and International Tax Law of WU (Vienna University of Economics and Business) and academic director of both the LL.M. Program in International Tax Law and the Doctoral Program in International Business Taxation (DIBT) of this university. He is the president of the Austrian branch of the IFA and has been a visiting professor at Georgetown University, US; New York University, Sorbonne University, Paris; Bocconi University, Milan; Peking University (PKU), China; University of New South Wales, Sydney, Australia, and others.